Audio By Carbonatix
Nigeria's House of Representatives on Tuesday voted to look into a dispute between the country's downstream oil regulator and Dangote Refinery over allegations about arbitrary fuel-import licences and petrol pricing benchmarks, amid corruption claims against the regulator's chief.
Aliko Dangote, Nigeria's richest man, has escalated his fight with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), accusing it of allowing in cut-price fuel imports that squeeze local refineries, including his 650,000-barrel-per-day Lagos plant, Africa's largest.
Dangote has urged a formal probe of NMDPRA chief Farouk Ahmed, citing governance concerns and claims of personal spending beyond declared income.
Lawmakers warned the row could trigger a fuel supply crunch over the holidays and said regulatory uncertainty threatens energy security and investor confidence.
The motion put by House member Francis Waive mandates the House's petroleum committees to resolve the dispute and report back within four weeks.
Members say Dangote refinery is a "strategic national investment" that could end Nigeria's reliance on fuel imports, earn much-needed foreign exchange, and moderate prices.
They said disputes between the regulator and the country's largest domestic refiner risked disrupting supply, price volatility, and policy inconsistency.
Lawmakers did not immediately disclose hearing dates.
Latest Stories
-
Mahama pledges 40 additional armoured vehicles to bolster police operations
54 minutes -
One dead as gunmen intercept passenger bus in bloody Walewale-Nasia highway ambush
2 hours -
[Video] Bawumia and Asiedu Nketia unite at SDA anniversary in Sunyani
2 hours -
IGP sounds alarm over police-to-citizen ratio as Lower Manya Krobo gets new HQ
3 hours -
Bringing back ‘By The Fireside’: Ohio University’s Emmanuel Mensah calls for digital entertainment education revival
3 hours -
Chief of Staff announces Presidential Delivery Unit to track government commitments
4 hours -
Barcelona move to within two points of La Liga title with Osasuna win
5 hours -
World Relays: We can’t afford to miss out again” — Amenakpor rallies Ghana after relay setback
5 hours -
Germany says US troop withdrawal ‘foreseeable’ as Nato seeks clarification
6 hours -
Kingsford Boakye-Yiadom attracts interest from Man United, Brighton, Atletico Madrid, others after Everton exit
6 hours -
Oil tanker hijacked off coast of Yemen and taken towards Somalia
7 hours -
These twins were born within minutes of each other – but have different dads
8 hours -
Black Princesses Coach Charles Sampson confident ahead of Uganda Qualifier
8 hours -
Mahama announces 1,200MW gas-fired power plant to boost electricity supply
9 hours -
We’ll publish the list of areas where ECG transformers will be replaced – John Jinapor
9 hours